Freidrichs Company has issued and outstanding 100,000 shares of cumulative, 10%, $20 par value preference shares which it sold for $25 per share at the beginning of 2018. The company has never paid preference dividends. As of December 31, 2020, dividends paid $300,000. Required: 1) Compute annual dividends to preference shareholders? 2) What is the amount of dividends in arrears? 3) How much dividends preference shareholders would receive